Can you imagine what would happen if your taxes went up by 32% next year?
Well, that's exactly what happened to many in Hollywood back in 1932 when Americans saw one of the biggest tax hikes in the country's history under President Herbert Hoover during the Great Depression.
We kick off our look at The Money Behind the Movies this week with a rarely-seen look at how that record-breaking tax increase, made official in the Revenue Act of 1932, impacted a wide range of actors in Hollywood.
Below is an article from a rare 1932 issue of the fan magazine Movie Classic that explains not only the big changes in store for California's biggest industry at the time, but also gives a breakdown of how much some familiar faces were making at the time... and some of the highest-paid names might surprise you.
And while many in Hollywood were forced to turn over 52% of their income to the government, they weren't even the hardest hit; the highest earners in the country were taxed at 63% of their yearly income!
Magazine cover and article from the collection of the Margaret Herrick Library.
What Hollywood star do you think would be the most vocal protester about a 32% tax increase these days? Tell us in the comments below:
